
New Know-Your-Customer and Reporting Rules Proposed for Cloud Providers: Five Key Takeaways
Last week, the U.S. Department of Commerce published a notice of proposed rulemaking (NPRM) implementing Executive Orders (EO) 13984 and 14110 to prevent “foreign malicious cyber actors” from accessing U.S. infrastructure as a service products1 (IaaS Rule). The IaaS Rule seeks to strengthen the U.S. government’s ability to track “foreign malicious cyber actors” who have relied on U.S. IaaS products to steal intellectual property and sensitive data, engage in espionage activities, and threaten national security by attacking critical infrastructure.